Affinity Tax Service

08/31/2026

We are growing!
Welcome Adam Christianson to the firm!

Adam is born and raised in Western Wisconsin. Enjoys debits, credits, all things taxation, and spending time with family. We are excited and extremely lucky to have Adam as part of the Affinity Tax team

02/05/2026

Important Tax News for Car Buyers! Auto Loan Interest

Starting in 2025, auto loan interest may become tax deductible under the new One Big Beautiful Bill (OBBB) — and the best part? You can claim it on top of your standard deduction (no need to itemize).

Key points:
▪️Applies to NEW vehicles only
▪️Loan must originate in 2025 or later
▪️Deduction currently available for tax years 2025–2028
▪️Vehicle must be finally assembled in the U.S. (check VIN/window sticker)
▪️For personal use vehicles
▪️Up to $10,000 per year in interest may be deductible

Income limits:
▪️ Single: starts phasing out around $100,000 MAGI
▪️ Married filing jointly: starts around $200,000 MAGI
▪️ Fully phased out around $150k single / $250k joint

If you’re planning to buy a new car between 2025 and 2028, this could mean real tax savings. Talk with your tax professional to see how this may benefit you!

Send a message to learn more

01/30/2026

Heads up, parents filing 2025 tax returns!

There’s a brand-new option called a “Trump Account” for kids, elected on IRS Form 4547.

Available for children under age 18
Kids born 2025–2028 may qualify for a one-time $1,000 government seed deposit when the account is opened
Growth is tax-deferred
Works similarly to a traditional IRA for your child’s future

The election does NOT have to be made on your tax return — it can also be completed separately, but timing and proper setup still matter.

As of now, it’s unclear whether many tax software providers will have Form 4547 fully integrated for filing season, since this is a brand-new form.

If you have young children, make sure to talk with your tax professional before filing so you don’t miss the opportunity to take advantage of this.

Send a message to learn more

01/27/2026

Tax Law Update: What the “OBBB” Means for the Upcoming Tax Season

Big tax legislation was recently passed in 2025 under what’s being called the One Big Beautiful Bill (OBBB), and it brings several important changes that will impact many taxpayers this coming tax season.

Many provisions from the 2017 Tax Cuts and Jobs Act (TCJA) were extended or made permanent, providing more certainty going forward.

Make sure your tax professional is up to date on the ever changing tax law.

Here are some of the bigger highlights:

Standard Deduction Increased
Most taxpayers will see a higher standard deduction, which can reduce taxable income without itemizing.
• $31,500 (Married Filing Joint)
• $15,750 (Single)

Child Tax Credit (CTC)
The CTC remains enhanced and more stable under the extensions, continuing valuable relief for families.
• $2,200 per child

SALT Deduction Cap (Itemized Deduction)
The cap on state and local tax deductions was adjusted, which may benefit homeowners and higher-income filers.
• Raised from $10,000 to $40,000
• Phases out with income over $500,000

Charitable Contributions
Some charitable deductions allowed even if you take the standard deduction.
• Up to $2,000 for MFJ starting in 2026

Auto Loan Interest Deduction
Interest on certain auto loans may be deductible for qualifying taxpayers.
• Up to $10,000 for U.S.-made vehicles
• Phases out over $100k Single / $200k MFJ

Senior Deduction
Additional deduction to help offset rising costs.
• $6,000 for age 65+ (per individual)
• Phases out over $75k Single / $150k MFJ

Tips & Overtime Income
Certain tip income and overtime pay may receive favorable treatment.
• Tips up to $25,000
• Overtime up to $12,500
• Phaseouts begin at $150k Single / $300k MFJ

Bonus Depreciation
Big win for business owners and real estate investors.
• 100% bonus depreciation is now permanent

Send a message to learn more

01/25/2026

🥶 It might be negative 20 outside…
🔥 But tax season is heating up!

Now is the perfect time to start gathering your 2025 tax information so you’re ready when filing season arrives.

W-2s, 1099s, mortgage interest, student loan interest, business expenses, charitable donations, getting organized early makes tax time smoother and less stressful.

Send a message to learn more

11/18/2025

Tax planning season is heating up as the temperature is cooling down!

Now’s the time to take advantage of year-end opportunities:

Thinking about a capital purchase for your business?

In real estate, planning to buy a rental for extra depreciation?

Considering an S-corp election for 2026?

Does a Roth conversion make sense based on where you sit in your tax bracket?

Small moves now can lead to big savings later. A lot can be looked at now to avoid surprises in March and April!

06/03/2025

📣 Reminder: Q2 Estimated Tax Payments Are Due June 16, 2025! 💰

Avoid that 7% IRS underpayment penalty by making your payment on time!

💡 Did you know? If your income is seasonal or varies throughout the year, you might benefit from using the annualized method. Instead of paying the same amount each quarter, this method allows you to base your payments on actual quarterly profit — which can:

✅ Improve cash flow
✅ Better align tax payments with income
✅ Reduce the risk of overpaying (or underpaying)

Not sure if you qualify or how to calculate it? That’s what we’re here for.

📞 Contact Affinity Tax Service today — let’s make your tax strategy work for you, not against you.

05/28/2025

🚨 Frustrated with Unnecessary Tax Return Extensions? 🚨

Do you feel like your tax return keeps getting extended for no reason?
Are you submitting your documents on time, only to get another email saying your return will be delayed again?

It might be time to find a tax accountant who values your time.

At Affinity Tax Service, we believe in:

✅ Realistic turnaround times
✅ Clear communication
✅ Respecting your deadlines — especially when your documents are submitted on time

📅 Don’t settle for delays. Let us show you how professional, timely tax service should be done.

📞 Call us today or message us to schedule your appointment — tax season doesn’t have to be stressful.

04/07/2025

💰 Got a Bonus? Here’s How It’s Taxed! 💰

If you recently received a bonus, congratulations! 🎉 But before you celebrate too much, keep in mind that bonuses are taxed differently than regular wages. Here’s what you need to know:

📌 Two Ways Your Bonus Can Be Taxed:

1️⃣ Percentage Method:
🔹 Your employer withholds a flat 22% federal tax on your bonus (for bonuses under $1M).
🔹 If your bonus is over $1M, the first $1M is taxed at 22%, and anything beyond that is taxed at 37%.

2️⃣ Aggregate Method:
🔹 Your bonus is added to your regular paycheck and taxed based on your total earnings.
🔹 This method can sometimes result in higher withholding, but you may get some of it back at tax time.

💡 Key Takeaway: Regardless of how it’s taxed upfront, your final tax bill depends on your total income and deductions for the year. You could end up owing more or getting a refund when you file your return!

💼 Not sure how your bonus will impact your taxes? Affinity Tax Service can help you plan ahead and avoid surprises.